Bharat Gears Ltd
Bharat Gears Ltd. (BGL) (Incorporated in 1971) is India's largest gear manufacturer. BGL is a major global supplier of automotive gears and heat treatment furnaces. BGL manufactures a wide range of gears for HCV, MCV, LCV, utility, and off-highway vehicles. The manufacturing facilities are located in Mumbra, Faridabad, and Satara. The Company has a strong Dealer network of 72 dealers in 26 states covering the entire domestic geography and 3 sales offices in Delhi, Mumbai & Kolkata. [1] [2]
- Market Cap ₹ 196 Cr.
- Current Price ₹ 127
- High / Low ₹ 173 / 80.1
- Stock P/E 9.07
- Book Value ₹ 77.5
- Dividend Yield 0.00 %
- ROCE 24.1 %
- ROE 25.5 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 78.3% CAGR over last 5 years
Cons
- Company has a low return on equity of -1.40% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Auto Ancillaries Industry: Auto Ancillaries
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
335 | 431 | 393 | 420 | 415 | 398 | 407 | 508 | 594 | 463 | 503 | 729 | 776 | |
303 | 386 | 364 | 394 | 393 | 367 | 379 | 465 | 536 | 444 | 467 | 664 | 718 | |
Operating Profit | 32 | 45 | 28 | 26 | 22 | 31 | 28 | 43 | 59 | 19 | 36 | 66 | 58 |
OPM % | 9% | 10% | 7% | 6% | 5% | 8% | 7% | 8% | 10% | 4% | 7% | 9% | 7% |
0 | 6 | 2 | 3 | 2 | 2 | 1 | 2 | 4 | 5 | 1 | 7 | 6 | |
Interest | 9 | 13 | 12 | 14 | 16 | 16 | 15 | 17 | 22 | 22 | 23 | 18 | 17 |
Depreciation | 9 | 11 | 12 | 14 | 14 | 16 | 17 | 18 | 22 | 27 | 24 | 20 | 19 |
Profit before tax | 14 | 27 | 7 | 1 | -6 | 1 | -2 | 9 | 19 | -25 | -10 | 34 | 29 |
Tax % | 33% | 31% | 33% | 0% | 35% | 54% | 36% | 32% | 36% | 24% | 20% | 24% | |
Net Profit | 10 | 19 | 5 | 1 | -4 | 0 | -1 | 6 | 13 | -19 | -8 | 26 | 22 |
EPS in Rs | 6.61 | 12.65 | 3.38 | 0.41 | -2.86 | 0.16 | -0.99 | 4.12 | 8.19 | -12.19 | -5.00 | 16.78 | 14.01 |
Dividend Payout % | 12% | 8% | 28% | 130% | 0% | 0% | 0% | 0% | 6% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 5% |
5 Years: | 12% |
3 Years: | 7% |
TTM: | 15% |
Compounded Profit Growth | |
---|---|
10 Years: | 2% |
5 Years: | 78% |
3 Years: | 22% |
TTM: | 12% |
Stock Price CAGR | |
---|---|
10 Years: | 16% |
5 Years: | 1% |
3 Years: | 45% |
1 Year: | 12% |
Return on Equity | |
---|---|
10 Years: | 2% |
5 Years: | 4% |
3 Years: | -1% |
Last Year: | 26% |
Balance Sheet
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
9 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 10 | 10 | |
Reserves | 50 | 65 | 68 | 68 | 63 | 63 | 59 | 70 | 80 | 70 | 64 | 98 | 109 |
58 | 62 | 75 | 100 | 100 | 98 | 112 | 134 | 162 | 152 | 118 | 107 | 112 | |
109 | 114 | 115 | 115 | 125 | 99 | 112 | 154 | 170 | 143 | 193 | 189 | 217 | |
Total Liabilities | 225 | 249 | 266 | 291 | 295 | 268 | 291 | 366 | 420 | 374 | 384 | 404 | 448 |
80 | 93 | 91 | 135 | 129 | 115 | 103 | 113 | 145 | 150 | 134 | 118 | 128 | |
CWIP | 5 | 3 | 25 | 4 | 2 | 3 | 2 | 2 | 10 | 2 | 1 | 1 | 1 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
140 | 153 | 150 | 152 | 165 | 150 | 186 | 250 | 264 | 222 | 249 | 285 | 319 | |
Total Assets | 225 | 249 | 266 | 291 | 295 | 268 | 291 | 366 | 420 | 374 | 384 | 404 | 448 |
Cash Flows
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
28 | 26 | 26 | 27 | 20 | 23 | 20 | 6 | 50 | 54 | 59 | 30 | |
-23 | -18 | -26 | -38 | -5 | -7 | -5 | -21 | -56 | -29 | -2 | -5 | |
-1 | -11 | 1 | 11 | -15 | -16 | -18 | 27 | -5 | -20 | -57 | -32 | |
Net Cash Flow | 4 | -3 | 1 | -1 | -0 | 0 | -3 | 12 | -11 | 4 | 0 | -7 |
Ratios
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 62 | 56 | 65 | 60 | 63 | 58 | 83 | 92 | 71 | 81 | 77 | 72 |
Inventory Days | 120 | 98 | 98 | 107 | 120 | 112 | 123 | 119 | 125 | 120 | 133 | 89 |
Days Payable | 179 | 138 | 143 | 157 | 178 | 148 | 175 | 181 | 155 | 167 | 229 | 148 |
Cash Conversion Cycle | 3 | 15 | 20 | 9 | 6 | 22 | 31 | 30 | 41 | 33 | -20 | 13 |
Working Capital Days | 16 | 27 | 25 | 27 | 22 | 27 | 48 | 68 | 47 | 46 | 44 | 49 |
ROCE % | 22% | 31% | 14% | 9% | 6% | 10% | 7% | 13% | 18% | -1% | 6% | 24% |
Documents
Announcements
- Board Meeting Intimation for Intimation Of The Board Meeting S.No. 5/22-23 17 Jan
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
10 Jan - Depositories and Participants) Regulations, 2018, please find enclosed herewith Certificate issued by Link Intime India Private Limited, Registrar and Share Transfer Agent of the Company …
- Closure of Trading Window 30 Dec
- Disclosure Of Related Party Transactions For The Half Year Ended September 30, 2022 Pursuant To Regulation 23(9) Of The SEBI (LODR) Regulations, 2015 11 Nov 2022
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Announcement under Regulation 30 (LODR)-Newspaper Publication
11 Nov 2022 - Copy of the Un-Audited Financial Results for the quarter ended September 30, 2022 published by the Company in the newspapers i.e. 'Financial Express' (English) and …
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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Product Portfolio
Gears(90%): The co. manufactures a wide range of Ring Gears and Pinions, Transmission Gears and Shafts, Differential Gears, Gear Boxes, and a wide spectrum of bevel gears and assemblies which find application majorly in the automotive industry.
Furnaces: Co. ventured into the construction of furnaces for captive use initially and thereafter, moved into its commercial production. They continue to build batch and continuous heat-treating furnaces in collaboration with technology major, AFC – Holcroft of Michigan, USA.
Automotive Components: This division includes automotive products such as automotive clutches and components, turbochargers and components, driveline products, axle shafts, flywheel assemblies, and rings, air suspension, etc. [1] [2]